List your Creditors
While many people go to great lengths to list their assets and have all other documents in order, they fail to list their creditors.
An estate cannot be settled until all of the creditors have been identified and paid. This must be done prior to the distribution of assets to the heirs and/or beneficiaries.
There is always the chance that a creditor can come forward and demand payment. If your records don’t contain enough information concerning the debt, your Personal Representative or Trustee won’t be able to verify or refute the claims.
Many think that their mortgage company and car loan are the only creditors for their estate. All of your final debts must be paid, and those include your final medical bills, funeral bill, and VISA, Mastercard, QVC, Cable TV, Cell Phone, etc.
Make a listing of all of your credit cards together with the account numbers. Also make a listing of all of your utilities and monthly bills. This will give your Personal Representative the information he/she needs to make certain that all of the final bills are taken care of.